Labour urged to scale back plans to give workers stake in firms

Changing policy to focus on UK profits would counter ‘stealth tax’ criticism, says thinktank

Radical Labour plans to pay workers as much as £500 each in dividends, by forcing every large company in Britain to give staff a 10% stake, should be scaled back to focus on profits generated in the UK market, a key architect of the policy has said.

In response to criticisms of the landmark proposal by the shadow chancellor, John McDonnell, the leftwing Common Wealth thinktank said changing the policy to focus on profits made in Britain, rather than globally, would help to address concerns that firms would relocate to avoid the rules.

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